Let to Yorkshire Building Society until 2023 (subject to option)
Tenant in occupation since at least 1988
Prominent City Centre location
Lot 30
Auction 22nd May 2014
Rent £31,650 per Annum Exclusive
Status Sold
Price £300,000
Sector Bank
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
12 miles south-east of Newcastle upon Tyne
26 miles north of Middlesbrough
88 miles north-east of Leeds
Roads
A1018, A19, A1(M)
Rail
Sunderland Rail Station
Air
Newcastle Airport
Situation
The property is located in the heart of Sunderland City Centre in a prominent corner position on the south side of High Street West, close to the pedestrianised retail thoroughfare and its junction with Fawcett. Neighbouring occupiers include RBS Bank, BHS, McDonald’s and Marks & Spencer.
Tenure
Freehold.
Location
Miles
12 miles south-east of Newcastle upon Tyne
26 miles north of Middlesbrough
88 miles north-east of Leeds
Roads
A1018, A19, A1(M)
Rail
Sunderland Rail Station
Air
Newcastle Airport
Situation
The property is located in the heart of Sunderland City Centre in a prominent corner position on the south side of High Street West, close to the pedestrianised retail thoroughfare and its junction with Fawcett. Neighbouring occupiers include RBS Bank, BHS, McDonald’s and Marks & Spencer.
Tenure
Freehold.
Description
The property comprises retail accommodation on the ground floor with ancillary accommodation on the first, second and third floors. The property benefits from a return frontage to Station Street.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises retail accommodation on the ground floor with ancillary accommodation on the first, second and third floors. The property benefits from a return frontage to Station Street.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
(1) For the year ending 2013 Yorkshire Building Society reported a total income of £543,400,000 and pre-tax profits of £199,300,000 (Source: www.ybs.co.uk 23/04/2014) (2)The lease provides for a tenant option to determine on 24th June 2018 on giving six months notice. (3) The lease provides for the tenant to pay a concessionary rent of £21,000 per annum exclusive until 24th June 2014 when it will increase to £31,650 per annum exclusive. The seller will pay the difference between £21,000 per annum exclusive and £31,650 per annum exclusive from the completion of the sale until 24th June 2014.